Santo Domingo.- The Association of Multiple Banks of the Dominican Republic (ABA) highlighted the importance of the public and private sectors converging in the adoption of measures to keep employment and economic activity afloat in the country, at a time when the international economic panorama becomes uncertain.
The ABA considered that the actions of the monetary authorities have been adequate, by adopting initiatives in an attempt to reduce inflation through the increase in the monetary policy rates (MPR), as the Federal Reserve of the United States has done this year. United States and central banks of the region.
Given this context, the banking union considered it necessary to put on the table options that make it possible for micro, small and medium-sized companies to continue access to credit under better conditions of rates and terms.
The union pointed out that it is important to encourage financial leases (leasing), invoice discounts (factoring), as well as the implementation of the Law of Movable Guarantees and the approval of the Law of Reciprocal Guarantee Companies, mechanisms that would facilitate guarantees for that financing continues to flow without a major impact on costs for the productive sectors.
These initiatives would facilitate access to immediate financial resources, purchase of machinery and equipment at preferential rates, and would guarantee access to credit for sectors with less access to financial services.
In this sense, the ABA insisted that the knowledge and execution of these legal provisions are crucial to promote, not only access to credit, but also the financial inclusion of the most vulnerable sectors in the economy.
In the same way, they will be important when it comes to curbing the possible adverse effects that the international economic panorama could generate in the country.
